Xunlei announced its financial report for the second quarter of 2023: revenue reached US$104 million, a year-on-year increase of 33.3%

Xunlei announced its unaudited financial results for the second quarter ended June 30, 2023, with total revenue of US$104 million (approximately 759 million yuan), a year-on-year increase of 33.3%. This is mainly due to the growth in revenue from membership, cloud computing, live broadcasting and other Internet value-added services

##▲ Picture source Xunlei official website, the same below

The financial report of this website mainly includes:

• Total revenue reached US$104 million (approximately 759 million yuan), with a year-on-year growth rate of 33.3%

• Cloud computing revenue reached US$30.7 million (approximately 224 million yuan), a year-on-year growth rate of 8.2%

• Subscribe (Membership) revenue increased by 17.0% to RMB 217 million (approximately US$29.7 million) in the same period last year

• Revenue from live streaming and other Internet value-added services reached US$43.9 million (approximately 320 million yuan), a year-on-year increase of 79.1% billion), the gross profit margin has also increased, from 43.1% to 44.0%

• Net profit for the same period in 2022 will be US$6 million (approximately RMB 43.8 million) , while the current net profit is US$5 million (approximately RMB 36.5 million)

According to non-GAAP, the net profit for this quarter is US$8.4 million (approximately RMB 61.32 million), compared to US$9.8 million (approximately RMB 71.54 million) in the same period in 2022
Diluted earnings per American depositary share are currently Approximately RMB 0.584, a slight decrease from RMB 0.657 in the same period in 2022
• Revenue cost is US$58.1 million (currently approximately RMB 424 million), accounting for the total 55.7%

  of revenue, compared with US$44.3 million in the same period in 2022 (currently approximately RMB 323 million), accounting for 56.6% of total revenue.

##In terms of membership business, the latest number of Xunlei members in Q2 2023 reached 4.72 million, compared with 446 in Q2 2022 The number of people increased by 5.83%. The average revenue per member was 42.9 yuan, an increase of 5.1 yuan compared with 37.8 yuan in Q2 2022. Xunlei said the higher average price per subscriber was mainly due to the continued increase in the proportion of users choosing premium memberships.

In terms of costs, Xunlei’s bandwidth costs included in revenue costs this quarter were US$28.9 million (currently approximately RMB 211 million). Accounting for 27.7% of total revenue, compared with US$25.5 million (currently approximately RMB 186 million) in the same period in 2022, accounting for 32.6% of total revenue. Xunlei said that the increase in bandwidth costs was mainly due to the increased demand for cloud computing services. The remaining revenue costs mainly include the revenue sharing cost of the live broadcast business, fee payment and costs related to cloud computing hardware equipment.

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